Oppenheimer Thinks SEI Investments Company’s Stock is Going to Recover


Oppenheimer analyst Glenn Greene maintained a Buy rating on SEI Investments Company (SEIC) today and set a price target of $60. The company’s shares opened today at $47.57, close to its 52-week low of $42.27.

Greene observed:

“SEIC reported mixed 4Q18 results as revenue fell ~1% Y/Y to ~$405M (vs. our/ Street’s $402/404M estimates) and adjusted EPS of $0.73 compared to our/Street’s $0.74 estimates. More important, quarterly net recurring sales were anemic at $3.7M despite almost $13M within Investment Managers. PB&T sales were flattish while IA and II saw negative net flows/sales, perhaps impacted by recent market volatility. Management suggests SWP sales activity remains robust but deal closes remain hard to come by. SEI continues to progress on the Wells conversion, and timing hopefully will be clarified by end of 1Q. We remain optimistic long term regarding SWP sales momentum, and PB&T’s long-term profitability trajectory. Maintain Outperform rating and $60 PT.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 17.9% and a 77.0% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Total System Services, and Black Knight Inc.

SEI Investments Company has an analyst consensus of Moderate Buy, with a price target consensus of $59.50.

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SEI Investments Company’s market cap is currently $7.39B and has a P/E ratio of 15.04. The company has a Price to Book ratio of 4.53.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock.

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SEI Investments Co. engages in the provision of investment processing, investment management, and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses.

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